Kentucky ag economists predict record-high 2022 cash receipts

During the Kentucky Farm Bureau’s annual meeting, University of Kentucky College of Agriculture, Food and Environment economists shared their predictions for the state’s agriculture and forest economies. Despite significant challenges, the economists predicted the state’s 2022 agricultural receipts will approach a record-high $8 billion, well surpassing the 2021 record-high of $6.9 billion.

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KyAgJennifer ElwellAgFacts
A Tale of Two Extremes

The latest information from the USDA National Agricultural Statistics Service, Kentucky Field Office notes, “Pasture conditions continue to decline as drought and cool temperatures are stunting regrowth. Grazing has been limited as the grass is brown and dormant. Many farmers have been feeding hay for a month at this point and concern is growing for winter hay stocks.”

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The Continuing Concerns Over Farm Labor

For farm families across the country, the issue of adequate labor is an ever-increasing problem. Finding domestic help seems to be a thing of the past in many areas, and navigating a complex and expensive federal system to bring workers in from other countries is, well, complex and expensive.

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ChallengesJennifer Elwell
Continental Refining Company Brining New Opportunities to Soybean Producers

Growers in the region surrounding Pulaski County will have an outlet much closer to home thanks to Continental Refining Company (CRC). The company is in the process of bringing a soybean crushing operation into its refining facility in Somerset providing a valuable outlet for the region's soybean crops and much-needed relief for producers who have been absorbing those increased fuel costs.

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